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5. Bull & Bear markets

Markets are usually in a trending phase about 1/3 of the time. The rest of the time it is moving sideways, or consolidating as you have heard before.

Consolidation is either an accumulation phase or a distribution phase. Price can also be in a phase we call re-accumulation or re-distribution.

A bull market can never exist without proper accumulation.

A bear market can never exist without proper distribution.

Both of the above, can occur on any timeframe as professionals do trade across several different timesframes. It is the actions relative do that timeframe  that will lead to the results of higher or lower prices on that particular timeframe. We can have a bear market on a 4H chart, and one retrace can be seen as a bull market on the 15M chart. We would then need distribution to start on the lower timeframe to push prices lower, which will then be a continuation of that bear market on the 4H chart.